Digital banking company Plumery announced it raised $3.3 million in additional funding from early-stage investor DN Capital and Fontes, managed by leading global VC firm QED Investors. This latest funding round brings Plumery’s total funding to $7.8 million, and is in preparation for a larger Series A round in 2025.
The new funding will expand sales and marketing efforts, strengthen global partner management, and enhance the product’s feature-rich capabilities in the small and medium enterprise (SME) and consumer segments, as well as for lending and microfinance companies. The company also plans to increase headcount in key areas, including product, engineering, and commercial roles.
Since its founding in 2022, Plumery has concentrated on delivering a digital banking platform that allows organizations to deploy and customize their banking capabilities quickly. After the successful launch of the platform, which focuses on SME and consumer banking as well as lending, Plumery is set to continue its expansion by introducing additional features, AI-driven automation and insights, and conversational banking, among other advancements.
Plumery’s platform enables mobile and web banking interfaces and experiences to be built on modern or legacy core banking platforms at a lower cost and at 80% greater speed than traditional approaches.
KEY QUOTES:
“Plumery empowers banks, lenders and fintechs to stay competitive in today’s fast moving digital landscape. Having backed leading consumer fintechs, we know how important it is to deliver outstanding web and mobile experiences. For incumbents and challengers alike, investing in great digital journeys is crucial to winning and retaining customers in a world where neobanks are raising the bar. Plumery’s innovative approach aligns perfectly with our fintech investment thesis – to transform the banking tech stack delivering real commercial impact. We are excited to back what is clearly a key player in this space to help them expand their global presence.”
-Guy Ward Thomas, Partner at DN Capital
“Plumery is a trailblazer in the digital banking space and is uniquely positioned as a bridge between traditional banking and the fast-evolving fintech landscape. Their platform enables banks to innovate rapidly without the disruption of overhauling existing legacy systems. Their clear vision and execution capabilities have been impressive, particularly in scaling their global presence and enhancing their product suite. We believe in Plumery’s potential to disrupt the market and are excited to support them as they reach new milestones in this next chapter of fintech evolution.”
-Yusuf Özdalga, Partner and Head of Europe at QED Investors
“We are excited about the continued support from our investors, which validates the progress and strategic foresight we have demonstrated. Our commitment to product excellence and expansion into key markets is central to our roadmap, and this funding will propel us even further. We look forward to working with our partners in this next phase of our evolution and sustained growth in today’s competitive market.”
-Ben Goldin, Founder and CEO of Plumery
